Share Name Share Symbol Market Type Share ISIN Share Description
Autonomy Corporation LSE:AU. London Ordinary Share GB0055007982 ORD SHS 1/3P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 2,549.00p 0 06:42:18
Bid Price Offer Price High Price Low Price Open Price
0.00p 0.00p - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 557.6 180.8 57.7 37.5 6,354.58

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21/11/201218:33AUTONOMY CHARTS9,522
24/8/201116:40au. charts thread - moderated248
19/8/201112:05AU. to rocket to Ј216
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11/10/201009:30Bear Raid on Autonomy30

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football: done deal £25.50 a share just hope clubman was short Hewlett Packard to exit computing and buy Autonomy Continue reading the main story Hewlett-Packard Co. LAST UPDATED AT 18 AUG 2011, 21:00 *CHART SHOWS LOCAL TIME price change % 29.48 - -1.91 - -6.08 Continue reading the main story Related Stories Dell shares slump on weak outlook Lenovo net profit beats estimates HP sues Oracle over chip dispute Hewlett Packard has confirmed plans to exit PCs, tablets and phones, in order to refocus on software. The company has also agreed to buy UK software firm Autonomy for £6.2bn ($10.3bn), or 2550p per share. Shares in HP spiked as rumours - now confirmed by HP - broke. HP also said it was considering a sale of its personal systems group, which includes the world's biggest PC-making business, and that it will discontinue its webOS devices. The webOS operating system is used in its tablet computers and smartphones. The move marks a significant U-turn for the company, which announced in a March strategic review that it would integrate webOS into all of its future hardware. HP had launched its Pre tablet computer as a competitor to the iPad and devices based on Google's Android operating system. However, webOS failed to gain traction with reviewers, or with operators and retailers. Mark-up Autonomy's board has accepted HP's offer to buy the firm, and founder Mike Lynch, who owns 8.2% of the stock, has pledged to vote for the deal. The UK firm was founded by researchers at Cambridge University, and specialises in pattern-recognition technologies. Mike Lynch told the BBC: "HP understands the special culture we have. This is about building Autonomy. It will be a positive thing for Cambridge and the UK." The agreed price of 2550p represents a 78% mark-up on its closing price in London on Wednesday of 1429p. It is equivalent to 47 times the pre-tax profits earned by Autonomy in the 12 months to June this year. As news of the acquisition and strategic shake-up leaked out, HP briefly went from being the worst performer in the Dow Jones Industrial Average index of leading shares, to the only gainer at lunchtime. The company's share price jumped 15% as the news broke on the Bloomberg newswire, before giving up nearly all of the gains as trading progressed into the afternoon. HP's shares eventually ended the day 7.6% down, confirming it as the worst performer on what was a dreadful day for the markets. That came on top of a 3.9% fall on Tuesday that was prompted by a warning from rival Dell that it expected demand in the US market to weaken in the coming months. The news follows long-running rumours that chief executive Leo Apotheker, who recently joined from German rival SAP, wanted to refocus the company away from its traditional hardware business towards its smaller but much more profitable software lines. On the sale of its PC business, HP said it "will consider a broad range of options that may include, among others, a full or partial separation... from HP through a spin-off or other transaction".
bobsidian: What does that equate to ? Around £25 per share ; 75% premium to today's close ? Yet another vertical move in the share price of AU. Will be sad to see the departure of AU. from the FTSE100, wild and irratic share though it has been.
bobsidian: Wow! The share price of AU. only seems to know how to move in straight lines - straight up, straight down.
wapper: Bought 5000 @ £17.10 T20 this morning. DJ MARKET TALK: Autonomy Results Very Good -Jefferies 1105 GMT [Dow Jones] Autonomy's (AU.LN) 2Q results are a very good set of numbers, with strong organic growth reflecting acceleration in the Cloud business and a particularly strong outturn in Original Equipment Manufacturer revenue, says Milan Radia at Jefferies International. Adds that profitability and margin are significantly ahead of estimates. Reiterates buy rating and 2200p target. Shares +5% at 1738p. DJ MARKET TALK: Autonomy Shows Positive Cloud Momentum -Goldman 1114 GMT [Dow Jones] Autonomy (AU.LN) 2Q revenues are in line with expectations, but the company is showing "positive cloud momentum," Goldman Sachs says. "Following the recent pullback in the shares, we expect 2Q results to have a positive share price impact, given the encouraging underlying metrics - particularly related to the cloud business, where we see scope for significant acceleration," GS says. Goldman Sachs' estimates and price target are under review pending the analyst conference call. Its recommendation is buy. The stock trades +5.5% at 1738p, making it top FTSE 100 riser. DJ MARKET TALK: Autonomy Leads FTSE 100 On Estimate Beating 2Q 1104 GMT [Dow Jones] Autonomy (AU.LN) +5% at 1738p, leading the FTSE 100 index after 2Q results beat market expectations, according to traders. The group says 2Q profits are up 8.1% and it expects an increase in profitability in the 4Q. Panmure Gordon's analyst George O'Connor says the results are better than what he was looking for and describes the outlook statement as encouraging. Also notes that areas in which the bears focus on such as day sales outstanding [DSO] - which measures the average number of days that it takes to collect revenues - deferred revenue and cash generation, are all very positive. "The shares should do well in the wake of this; expect target price increases," adds O'Connor. Panmure currently rates Autonomy at buy with a 2045p target.
alan@bj: Usual trend with AU. is for the share price to rise BEFORE the results, then tank on the day. This makes a pleasant change. How long until the bears find fault?
luafc: OW: Not sure. The trouble is his acquisition plans are not "long term". To come out with a pseudo profit warning, then retract it effectively, then say nothing until today when surely there was an earlier opportunity to signal timing slippage is not helpful to credibility and in turn the share price. A weaker share price undermines acquisition plans through a weaker negotiation stance and/or can lead to overpaying. We're at a stage now where withdrawing from an acquisition altogether would also probably lead to a share price setback. It's not been a good year from Lynch. All that said, ML is no slouch. You don't lose talent overnight. Everybody deserves some slack sometimes. I remain confident in this company - it has fantastic products and clients. The other thing for me is this. There is surely limited downside from here. If the City really knocks the price hard, by which I mean back to £10 or less, AU. will simply fold into a US gorilla for a decent premium. The price, however, will probably not be as high as has been touted in some quarters earlier this year.
rock steady: Au. share price is dominated by growth potential (no divi etc.) - without stellar growth PE falls back to normal levels for the sector hence spare cash is used for acquisition rather than divis, all to fuel growth.
rock steady: Brave - I don't know. I'm just following the market, if anything that previous trading has taught me is not to go against the market. It would be very brave to go long on these at present. Being neutral makes no money! Sizes of falls etc. are largely irrelevant due to the pricing bubble that AU. had obviously been given. What supports such a high share price? This is the 'bulls' mentality that when shares drop, it can't be understood why. I've made this exact mistake previously as shares suddenly look good value. btw, nobody has said that AU is not a good company, this is just where the market sees the value of it's shares. Look at ARM holdings - 120PE with no other justification IMHO other than a speculative take over bid. If it comes to nothing I see no reason to justify it's current share price. Doesn't stop it being a good company. As yet, the AU share price has not encountered a resistance level. The results thursday will either confirm the current trend or stop it for the time being & possibly retrace. Thursday will be an interesting day.
weetnie: Autonomy Corporation Share Price: 1,852p Market cap: £4,486mm Current P/E 26.5 Current Yield 0% (AUTN.L) Another quarter, another profit warning for Autonomy. Investors may well feel that life is just a bit too volatile in this successful, steadily growing company. Autonomy typically provides some guidance in advance of its quarterly results, for which Q3 are due on 21 October, based on revenues booked. Costs are relatively fixed and gross margins relatively stable, and therefore revenues provide a pretty good indication. The central thrust of the statement is that while Q3 results are expected to be around the top end of the model range discussed at Q2, the company is "also noticing customers still showing volatility around their view of the current macroeconomic situation" and, for this reason, the company is adjusting downwards its expectations for the full year (in order to be "prudent"). For most companies the revised expectations would still look to be pretty good, but the market always punishes Autonomy for any negative surprises, typically with a share price fall of up to 15%, and today is no exception. In detail Q3 revenues are expected to be around the top end of the $206-211m model range discussed at the Q2 results, representing growth of around 10%, and adj. EPS of 25-26 cents, representing YoY PBT growth of 35%. Gross margins (which fell by around 2 ppts in Q2, to some dismay, but the company provided a one-off explanation) have improved. The company expects to reduce 2010 revenues in its internal model by 3% on current consensus, with commensurate changes to other parameters. That would show FY revenue growth of 17%, organic growth of around 12% and YoY PBT growth of around 20%. What is going on? First, it is worth noting that the company generally has fairly good visibility on revenues for the next three months. About half of revenues (very roughly) are repeat business – maintenance contracts, and so on, and for the remainder there is a clear pipeline of orders which then get completed during the quarter, and many of these might be, say, half completed at the start of the quarter. However it may be open to customers to defer the implementation of an order. In addition, a fair proportion of new business is effectively non-discretionary, such as where it results from litigation and disclosure requirements. That leaves discretionary business. This can be the company's "promote" products (meaning-based marketing, auto-controlling website layout etc), which is anyway small, and the use of IDOL inside companies. A significant growth component of the latter this year has been sales to OEMs like Oracle and Microsoft, who incorporate Autonomy's software in their own products. It's not clear exactly where the shortfall is coming from – it sounds like non-OEM IDOL – but the implication would appear to be that in Q4, a traditionally strong quarter where customers use up the remainder of their budgets, discretionary spend has been cut back. Arithmetically, the revised forecast implies Q4 revenues 10% or more lower than previously expected. That implies a significant fall of 20-30% in the discretionary element. Added to this one should maybe take account of the "major contract", which must surely be BP, for which costs were incurred in Q2 but some revenues were, for unexplained reasons, to be accounted for in Q3. It is possible that one reason for Q3 being at the upper end of expectations was better than expected revenues on this contract in Q3, meaning that at some underlying level there may have already been some weakness in the rest of the business in Q3. That would mean that the company has seen a trend for a little while, with which expectations in Q4 are consistent. So much for 2010, the YoY performance would still be seen as pretty fair, not rebounding from a previous fall, in any other sector. We do not believe that the company, after describing itself as being "prudent", will issue another profit warning for 2010, especially given its visibility (and the ability, if it so wished, to rush some contracts to completion so that revenues would be included in Q4). Should there be worries about Q1 2011 and for 2011 as a whole, for which consensus was for revenue growth of almost 15% (now about $158m or +18.2% if unchanged)? Obviously it is too early to tell. However, positives include proper revenues from SPE IDOL (surely $20-30m) and the new product (surely £20-30m, as it is intended to sell itself). That leaves organic growth at, say, 11%, which would be at the lower end of the range for the last several years. We would therefore expect that 2011 revenues should be back on course, ie unchanged from previous expectations. However it may take the market some time to believe this, especially as the company is likely to guide towards its usual 12-20% range (notwithstanding new products), and that could start out more like 12-15%. And, with Q1 typically a weak month, any return to normal may take several months. So the next few months are likely to include the usual volatility in the share price. Of course, any cyclical economic upturn in 2010 would have a leveraged positive impact, but we are not assuming that in our expected case. Valuation and recommendation On the basis of the roughly 1520p at which the stock has been trading mid-afternoon today, this puts the shares on a current P/E of 21.7x, and a little less if one adjusts for the convertible loan notes issued to part-fund the acquisition. Unchanged expectations for 2011 would give a P/E of 17.3. We assume that the outlook for 5 years from now is unchanged, and therefore maintain a current valuation of around 2100p and a Buy recommendation. We would also note that, over the last few years, share price falls after quarterly results have proved to be successful investment opportunities in Autonomy. Analyst: Tom Gidley-Kitchin __________ Information from ESET NOD32 Antivirus, version of virus signature database 5509 (20101006) __________
thecoolvoice: I see that there is a lot of confusion regarding the blinkx placing. The blinks price is already in the AU. price. So let's say at the end of trading on Monday AU. share price is 775p. The market believes that 35p is blinks and 740p is the new AU. share that you get. So you do not get anything for free - it is that the existing AU. share is split into 2 shares - the blinks shares and the new AU. shares. As you have 2 shares instead of one your dealing costs will double (you pay commission twice) - I know that the commission is less than a tenner but it adds. On Tuesday when the dealing starts then the market will determine if the 35p price for blinks is right or not. The share price of blinks might go up to 60p lets say on the first day of trading but it could also go down to 30p. The market will decide which way it will go (supply and demand). The same will happen with AU. shares - the market will decide if 740p is the right price or not. The shares could go up if there is demand but they could also go down. But one thing is certain you don't get anything for nothing the blinks value is already in the AU. Price. So on the example above if on Tuesday both blinks and new AU. shares don't move at all (there is no gain or no fall) then you lose the commision as you have to sell two different lots of shares.
Autonomy Corporation share price data is direct from the London Stock Exchange
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